1. Ernst & Young

Accounting

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Managing Your Career

Visit Managing Your Career for news of interest to young professionals, including job market trends, job-hunting tips, careers columnists, and more. You'll discover strategies for navigating the downturn—and the recovery—plus slide shows and other features for Gen Y job-seekers.

Bested Big Four rivals with a rich benefits package and commitment to training.

Getting Started

Undergrad Internships

Internships are filled for 2008

Undergrad internships (paid and unpaid)

2008: 2,300 (to date)

2007: 2,300

2006: 2,245

100% of internships are paid, 0% are unpaid.

2007 interns came from the following classes...

2% Freshman

5% Sophomores

60% Juniors

33% Seniors

...and from the following majors:

85% Business

1% Computer Science

2% Economics

1% Engineering

2% Liberal Arts

2% Math

0% Science

5% Undeclared

2% Real estate

There is an official summer internship program*

Average summer program: 10 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $22.50

Average total intern compensation: $11,000

98% of eligible 2007 interns received full-time job offers

92% of interns with offers accepted

Notes: Each intern participates in a 4-day International Leadership Conference, which includes networking with firm leaders, team-building exercises, professional seminars and Disneyland excursions. Interns from around the world can connect, blog live from our facebook.com page about the conference, and create videos.

Notes: E&Y's volunteer opportunities are devoted to education and mentoring. E&Y employees use skills to help youth further their education with the goal of reaching college and work with PBS to improve math literacy for children.

Training Programs

The organization has a formal orientation program for new hires

Program length: 15 days

Orientation includes the following:

Computer training

Guest speakers

Diversity exercises

Team building activities

Facilities tour

Benefits overview

Firm overview, strategy, culture, and values, career planning/success; service line training, performance management

$18,100 average spent on training, per new hire, in 2007

There is a formal leadership or management training program that lasts less than a year:

Program Name: Your Master Plan*

How do new employees enter the program? Hired into the program

If not hired directly into program, when are most new hires first considered eligible?

50-week training program

After completion of program, what percentage of employees receive a raise? 100%

How much is the typical raise: 5-9.9%

There is a formal leadership program for entry-level hires that lasts a year or more.

Program Name: Financial Services Office, Business Advisor Program*

How do new employees enter the program? Hired into the program

If not hired directly into the program, when are most new hires first considered eligible?

Is program rotational? Yes

If so, how many locations or business units does the employee spend time at? NA

Minimum rotations: 3

Maximum rotations: 5

Length of program, in weeks: 208

Minimum: NA weeks

Maximum: NA weeks

After completion, what percentage of employees receive a raise?: 100%

How much is the typical raise: 5-9.9%

Does company have formal mentorship program? Yes

100% of entry-level hires participate

16 days of additional training expected

Notes: College students begin Your Master Plan in their 5th year of school, attending summer classes at either the University of Notre Dame or the University of Virginia while working full time at an EY office. After 1 year they have earned their Master?s in Accounting and continue their career in an EY office working in our Tax practice at the rank of Staff 2.

The Business Advisor Program is designed to give new hires in the Financial Services Office advisory practices exposure to a wide variety of risk advisory services, such as risk management and structured finance. After approximately four years, participants select an area of concentration based on career goals.

Getting Ahead

Three-year retention rate: 47%

Five-year retention rate: 34%

How are raises determined?

Based on market rates, organizational and individual performance.

When are most entry-level hires eligible for their first raise?

Oct. 1

How are promotions determined?

Performance*

When are entry-level hires eligible for first promotion?

One-year anniversary

Evaluations

Frequency of evaluations

Twice a year

Most important characteristics for entry-level hires:

2 Analytical Skills

3 Effort

1 Teamwork

Min. tenure in years required for job change: 0

Long-Term Prospects

Does position of vice president exist at this organization? No

If not, is there a comparable title? Partner, Principal, Director, Executive Director

No. of employees who hold VP or similar title: 3,139

No. of employees with VP or similar title with 20 years plus seniority: 1,055

Age of youngest employee with VP or similar title: 33

Seniority of youngest employee with VP or similar title in years: 11

Notes: 89.5% of E&Y's campus hires are promoted to senior-level within 2 years.